Korea Power Exchange Chairman Nam Ho-ki delivers a speech at a ceremony

 to kick off the new year at the KPX Education Center in Seoul on Jan. 2. (photo: KPX)

Korea Power Exchange (KPX) Chairman Nam Ho-ki urged his executives and staff members to be on their highest alert footing ever to ensure a stable supply of electricity at a ceremony to launch the 2014 business year at the KPX Education Center in Samseong-dong, Seoul on Jan. 2.

He summed up his New Year’s business buzzword “anbulmangwui” in Chinese characters, meaning “do not loosen up tension toward stable supply of power amidst relaxed yearend and New Year atmosphere and relatively stabilized power systems.” 

Looking back, Nam said 2012 and 2013 were difficult years during which KPX struggled to restore its prestige tarnished in the wake of the Sept. 15 rolling blackouts in 2011, and staff members were burdened with workloads ensuring power supply caused by disruptions of nuclear power units. But executives and staff members as well as management and labor joined forces to restore public trust lost in the wake of the blackouts with a strong determination to translate difficulties into opportunities, and KPX has been ramping up its organizational capabilities by reestablishing an emergency response regime and revamping power systems while overcoming power shortage crises.

“We harbor hopes and expectations for the new year, but we have to be on a heightened alert footing, not loosening up the tension even for one moment following the seasonal atmosphere,” he said. 

“This year has many pending tasks, including how to cope with winter and summer power shortages, the successful relocation of KPX headquarters, and the settlement of new market systems such as demand management, vesting contracts, and the government’s policies toward public entities. Whether they turn into a crisis or opportunities hinges on how we do. In order to make the year 2014 a year of opportunities, we have to brace for changes and crises ahead and formulate proper ways to cope with them.

“First of all,” he said, “KPX will have to make joint efforts and join forces in overcoming the power shortage crisis of the current winter season wisely, even though the operation of power systems is stabilized to some extent.” Nam demanded that KPX should make preparations to cope with a power shortage this summer.

Second, he called for the successful relocation of KPX headquarters.

Third, he urged his executives and staff members to translate newly emerging areas such as demand management and vesting contracts into new opportunities. “Now that the power systems are returned to normal to some extent, these businesses may be developed into KPX’s future growth engines, which will contribute to establishing KPX as a leading company specializing in both power and energy industries and toward creating people’s happiness by building a creative power mark,” Chairman Nam said. Nam also called for KPX’s changes to cope with the government’s policies toward the power industry.

Fourth, he said, KPX will have to formulate ways of becoming an exemplary public organization by keeping tabs on management efficiency and debt management in accordance with the government’s call for normalizing public entities and addressing lax management and soaring debts.

Lastly, Chairman Nam reiterated integrity as he did last year.